Are certain people from Finance Ministry and Income Tax Dept. (ITD) trying to save NDTV from the Income Tax fine of more than Rs.550 crores ($81.2 million)? The incidents happened in the Income Tax Appellate Tribunal (ITAT) on the NDTV case. The intervening application by S Gurumurthy, Whistleblower Income Tax official S K Srivastava and NDTV’s minority shareholder Quantum Securities Private Limited was objected tooth and nail by (surprise!) the Advocate of Income Tax Department.
If the intervening parties wanted to provide more documents, what is the harm for Income Tax department?
The argument took place on July 26, 2016 and the government lawyer representing Income Tax vehemently objected to the applications of the three persons who pointed out more frauds in the NDTV’s tax evasion case before the ITAT. It does not take Rocket Science to figure out that the stand taken by the government lawyer was under the direction of Finance Ministry. It came as a complete surprise when the government lawyer took the stand of objecting to the intervening application by Gurumurthy, Srivastava and minority shareholder Quantum Securities Pvt Limited’s attempts to provide more proof on the illegalities of NDTV’s tax evasion saga.
The Order pronounced by ITAT on September 15, 2016 totally agrees with the versions of the government lawyer that this is an issue between Income Tax and NDTV and third parties can’t be entertained.
Here are some questions that need to be answered:
- Why did the lawyer of Income Tax under Finance Ministry make such a surprising argument?
- If the intervening parties wanted to provide more documents, what is the harm for Income Tax department?
- Considering the Income Tax argument that outsiders can’t be entertained in tribunals, how come minority shareholder Quantum Securities can be termed as outsiders? Was this an attempt to avoid submission of NDTV CEO’s KVL Narayan Rao’s statement admitting the violations?
These questions are genuine and the long suffering public have a right to know why it is taking so long to bring closure to this case.
1. The conversion rate used in this article is 1 USD = 67.74 Rupees.
2. Text in Blue points to additional data on the topic.
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